French engineering group Technip Energies has won a major contract to develop the Coral Norte floating liquefied natural gas (LNG) project offshore Mozambique, in a deal valued at more than €1 billion (US$1.14 billion), the company said on Monday.
The contract covers engineering, procurement, construction, installation and commissioning work for the project, which is part of efforts to expand Mozambique’s emerging role as a global LNG supplier.
Technip Energies said it will execute the project in partnership with Japan’s JGC and South Korea’s Samsung Heavy Industries on behalf of Mozambique Rovuma Venture, a consortium led by Italy’s Eni and its partners.
The Coral Norte project forms part of the wider development of Mozambique’s offshore Rovuma Basin gas reserves, one of the largest untapped natural gas discoveries in the world. The development is expected to significantly increase LNG output capacity in the region.
Technip Energies chief executive Arnaud Pieton said the project would help accelerate LNG production and strengthen Mozambique’s position in global energy markets.
More Read
Coral Norte is designed to produce around 3.6 million tonnes per annum (Mtpa) of LNG, effectively doubling output capacity from the existing Coral South floating LNG facility to approximately 7 Mtpa once fully operational.
The project follows a final investment decision taken last year by Eni and its partners, including China’s CNPC, Mozambique’s national oil company ENH, Abu Dhabi National Oil Company’s XRG and Korea Gas Corporation.
The contract award underscores renewed momentum in Mozambique’s LNG sector, which has faced delays in recent years due to security concerns in the country’s northern Cabo Delgado province, as well as volatility in global energy markets.
More Read
Technip Energies said the latest award, combined with previously announced related contracts, represents a significant milestone in the development of the Coral hub and reinforces confidence in large-scale offshore LNG infrastructure.
Industry analysts say floating LNG projects such as Coral Norte are increasingly attractive to energy companies because they allow gas to be processed offshore, reducing the need for extensive onshore infrastructure and accelerating production timelines.
Mozambique is seen as a key future supplier of LNG to global markets, particularly Europe and Asia, as countries seek to diversify energy sources following disruptions to traditional supply chains in recent years.
The Coral Norte development is expected to play a central role in monetising Mozambique’s offshore gas reserves, while also attracting further investment into the country’s energy sector.
However, analysts caution that long-term project success will depend on continued stability in the region, as well as global demand for LNG amid the energy transition and shifting climate policies.
With the latest contract award, Technip Energies and its partners move closer to expanding one of Africa’s most ambitious offshore gas developments, positioning Mozambique as a growing player in the global liquefied natural gas market.
